As e-commerce continues to grow, market leader IQ Fulfillment is perfectly poised to provide businesses with tailored solutions to meet demand in the digital age. With a dramatic rise in global e-commerce transactions over the past few years, the fulfilment sector has been trying to leverage technologies to keep up with the shift, especially with the e-commerce sector expected to become the largest retail channel in the world by 2021, outpacing sales from supermarkets, groceries, apparel, and footwear retailers.
Research states that e-commerce is projected to generate $4.479 trillion in retail sales by 2021, soaring over 140 per cent from $1.859 trillion in 2016. As a result, companies are being forced to create and comply with omnichannel fulfilment strategies to meet the modern consumer’s needs.
E-commerce expansion and the growth of online buying options have contributed to the need of having technologically capable solutions to keep pace with the fast-growing industry and benefit from it. In terms of statistics, IQ Fulfillment is a facilitator. With the e-commerce market in the MENA region expected to reach $28.5 billion by 2022, the company is presented with an opportunity to cater to various clients and help them derive revenue through apt use of technology. It is notable that the market value currently is $8.3 billion and is expected to grow by 3.5 times. Regionally, the UAE has the highest penetration of e-commerce.
The change in the quality of e-commerce demands has also altered the way warehouses and distribution patterns work. Companies today are looking at e-fulfilment operations and services, making it important for industry players to either enhance their technological capabilities or hire service providers who are capable of tech and digital innovations.
The first robotic fulfilment centre in the region, IQ Fulfillment was launched in Dubai by IQ Holding to support the needs of small and medium enterprises (SMEs), incubators, accelerators, and e-commerce players. The company seeks to accelerate its business growth for enterprises, with a warehouse spanning an area of 45,000 sq. ft, deploying robotics and artificial intelligence (AI).
Its services are designed to maximise revenue by eliminating the impact of damaged goods or misplaced or wrong orders, putting technology at the centre of its work, with intelligent solutions and a cutting-edge software platform for innovative businesses solutions.
What’s in store:
A $2.3 trillion global e-commerce market is a reflection of the changing shopper expectations worldwide. Digital disruption has refurbished the consumer habits; the connected, tech-savvy, and aware consumer today expects a seamless, faster-purchasing journey, whether online or in-store delivery. The e-commerce and its related sectors are growing, and facilitating this is the region’s young population — estimated to be at 60 per cent of the total — accounting for nearly 200 million people below the age of 30. These factors combine to open avenues of growth and development for IQ Fulfillments.
A report on the sector by Zebra Technologies, a US-based technology and research firm states, “In the digital economy, manual processes leftover from the pre-Internet era continue to vanish from warehouse and fulfilment operations. Decision-makers looking to the future said next-generation supply chains will reflect connected, business-intelligence and automated solutions suited to the on-demand, omnichannel landscape.”
Digital transformation has changed the dynamics of the retail supply chain, creating aN ecosystem that is in flux. The future, therefore, is going to be dynamic, driven by technological creations and tools.
How do we meet the challenge?
It is the only organisation to offer a full range of digital and physical infrastructure to support the digital ambitions of businesses across the spectrum of start-ups and established companies. Utilising robotics and AI solutions, IQ Fulfillment boosts efficiency and productivity. It helps process 12,000 robotic orders daily, with a 99.9 per cent accuracy rate, and productivity is three times the human output.
In addition, IQ Robotics, IQ Fulfillment’s sister, is a robotics AI-driven business that’s spearheading the digital transformation of the logistics sector. IQ Robotics is a provider of tailor-made technology solutions that seek to promote the automation of all processes, offering solutions that cover robotics, warehouse automation, software solutions, package protection, labelling solutions, and other related services. IQ Robotics has fostered exclusive international partnerships with companies like Quicktron, Honeywell Logistics Technology company, Damon technologies, Locked Air, COTAO, and CubiLink.
IQ Fulfillment puts technology at the centre of its work. With intelligent solutions and cutting-edge software platforms, it provides innovative solutions for businesses. It integrates seamlessly with business operations, thus removing the burden of fulfilment and freeing up the resources that brands can use to grow and further develop.
The technology being used by IQ Fulfillment is capable of managing exchanges, quality control, product testing, product assessment, and sorting. It allows effortless application programming interface (API), with highly scalable and configurable Warehouse Management System (WMS), Order Management System (OMS), and Transportation Management System (TMS) processes, linked into a data Hub Transparent 3PL (Third-party logistics) integration for domestic and cross-border shipping, along with secure and climate-controlled facilities.
Other value-added services provided by the company include kitting & bundling, cross-docking,, labelling and tagging, branding, weighing & scanning (DWS), insert gift cards, fragile packing and protection, loading and offloading, multiple 3PL, last-mile delivery options, and shipping documentation.
With a proof of concept warehouse, a team of experts and features like robotics picking, end-to-end track and trace, full live visibility, intelligence storage, package protection, cross-docking, return management, and customised value-added services, IQ Fullfilments is catering to all market needs. In short, IQ Fullfilments takes care of everything an enterprise needs to build a thriving e-commerce business. Essentially, SMEs only need to build an app or website based on their business model, and IQ Fulfillment supports them with warehousing, order processing, and delivery by taking all logistical aspects, with highest levels of efficiency.